Forecast Aggregation Experiment: Nonfarm Payroll Employment Forecast
The Graph of the Week is the result of the NABE/Cal Tech Forecast Aggregation Experiment to predict the change in nonfarm payroll employment for May, 2007. The experiment was conducted on May 30, 2007.
This was the last of five experiments conducted between April 17 and May 30. The NABE Foundation sponsored the five forecast aggregation experiments: two forecasting the monthly employment numbers, two the monthly consumer price index figures, and one the quarterly gross domestic product. These were the latest in a series of forecast aggregation experiments that the NABE Foundation has conducted with the Laboratory for Experimental Economics and Political Science at CalTech under the direction of Professor Charles Plott.
Read more about these experiments in the June issue of NABE News.